Israel Bond Employes Ratify a New Two-year Agreement
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Israel Bond Employes Ratify a New Two-year Agreement

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Some 500 professional and clerical employes of the Israel Bond Organization, who went on strike on May 14 here and at 70 regional offices throughout the country, yesterday ratified an agreement for a new two-year contract which ended the two-week walkout.

A spokesman for the Community and Social Employes Union, Local 107, District 1707 of the American Federation of State, County and Municipal Employes, said some gains had been achieved by the strike but conceded that the main battle goal of the local had been to rebuff management efforts to reduce existing salaries and fringe benefits.

The spokesman said that the professional workers received increases of $900 for the first year and $800 for the second year. Clerical workers received an increase of $13 a week for the first year and $12 for the second year. The figures were the same as those embodied in the prior two-year pact, the spokesman said.

He said a gain had been won in the application of the contract cost-of-living allowance which, in the prior pact, provided that both professional and clerical workers received a four percent increase for each annual cost-of-living increase after the first two percent rise in the contract year. In the new contract, the percentage increase, after the first two months of cost-of-living increases, is six percent.

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